PCB Are Bearing A Huge Loss Due To Irregularities In PSL

0
284
PCB
Image Source: Twitter.com
Article top

Pakistan Cricket Board (PCB) was seen facing a loss of millions of rupees due to huge irregularities in the first two editions of the Pakistan Super League (PSL).

Auditor General of Pakistan has mentioned in an audit report of all the irregular payments to franchises, irregular advance payment to vendors, non-recovery of dues from the franchise, TA/DA to journalists and the members of Board of Governors in the first two PSL editions.

With accordance to the report given by the Auditor, the PCB is bearing a loss of Rs 248.615 million due to irregular payments to franchises in excess of an agreed share of the central pool.

Further, the reports submitted to Pakistan’s National Assembly on Monday showed that the cricket board also faced loss due to irregular award of compensation to the PSL franchises of Rs 54.490 million while the unjustified auction of franchise caused loss of $11 million.

Also, the PCB did not recover the due amount from franchise worth Rs32.050 million and that there was irregular excess expenditure on production of PSL-II final without proper estimation of Rs18.880 million.

Moreover, Auditor General has put a huge claim on PCB that they made an unauthorized and unlawful transfer of PSL funds of Rs145.148 million into third party bank accounts outside Pakistan. In addition to these, PCB suffered from a loss of Rs13 million due to non-auction of commercial broadcast rights.

Matched Content Ad

LEAVE A REPLY

Please enter your comment!
Please enter your name here